Kuwait’s balance of payments records $2.62bln surplus

The current account surplus soared by 11.9% in 2019

  
Close-up of Kuwaiti bank notes (toned). Image used for illustrative purpose.

Close-up of Kuwaiti bank notes (toned). Image used for illustrative purpose.

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Kuwait -  Preliminary data of Kuwait's Balance of Payments (BoP) for fiscal year (FY) 2019 showed a surplus of KWD 821.2 million ($2.7 billion), compared with KWD 1.1 billion ($3.6 billion) in 2018.

The current account surplus soared by 11.9% last year to reach KWD 6.7 billion when compared to KWD 6 billion a year earlier, according to the Central Bank of Kuwait (CBK).

Meanwhile, the trade account surplus registered a KWD 714.5 million surge, with net cash outflows worth KWD 7.4 billion in 2019, compared to KWD 6.6 billion in 2018.

Overall BoP showed a surplus of KWD 3.7 billion by 2019 year-end, compared to KWD 7.8 billion in 2018, the CBK added.

Source: Mubasher

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